Turkey Finance/Evening: Turkey Finance Contributed 204 Billion TL to the National Economy

Foreks - Türkiye Finans contributed a total of 204 billion TL to the country’s economy in the first nine months of 2024, with 157 billion TL in cash and 47 billion TL in non-cash contributions. By expanding its funding sources, the bank increased the collected funds to 188 billion TL, marking a 6% rise since the beginning of the year, while its legal equity capital reached 32 billion TL, growing by 14%.

Türkiye Finans announced its financial statements for the third quarter of 2024 to the Public Disclosure Platform (KAP). The bank highlighted its contribution of 157 billion TL in cash and 47 billion TL in non-cash, totaling 204 billion TL to the national economy in the first nine months of 2024. Maintaining a strong capital structure, Türkiye Finans increased its legal equity capital by 14% from the end of the previous year to reach 32 billion TL, while its capital adequacy ratio stood at 18.93%. The bank has also expanded its collected funds by 6% since the beginning of the year, reaching 188 billion TL.

Strong financial support for the national economy Murat Akşam, General Manager of Türkiye Finans, emphasized the importance of support for producers and exporters, particularly the real sector, in ensuring Turkey's sustainable growth. He stated that Türkiye Finans is committed to supporting production and exports, continuously providing financial assistance to the national economy from both individual and commercial perspectives. He further mentioned:
“As Türkiye Finans, we maintained our sustainable growth strategy in the third quarter of 2024. Our institution continued to uphold a robust capital structure, achieving a 14% increase in legal equity capital to 32 billion TL since the beginning of the year, while realizing a capital adequacy ratio of 18.93%. We are proud to have contributed a total of 204 billion TL to the national economy, comprising 157 billion TL in cash and 47 billion TL in non-cash in the first nine months of 2024. During this period, we also broadened our funding sources and increased the collected funds by 6% to reach 188 billion TL. By financing SMEs, which are the backbone of the economy, we boosted their financing usage by 28% year-on-year in the first nine months of 2024.”

In the third quarter of the year, Akşam stated that they continued to enhance customer experience and digitalization efforts without losing momentum. He noted that due to innovative digital solutions and inclusive strategies offered, access to banking services had become easier, with 82% of individual transactions and 68% of corporate transactions completed without any branch visits. Existing solutions provided to corporate clients through digital channels were also reinforced with new functions. With the Swift GPI function, customers can track their international money transfers end-to-end, ensuring a safe and transparent payment experience. The addition of Export Value Acceptance Document (İBKB) transactions to digital channels facilitated the international trade processes of exporting clients. Furthermore, processes such as checkbook applications and promissory note payments were integrated into the digital channels, allowing corporate clients to conduct numerous banking transactions without interrupting their business. Additionally, the ‘Payment Request’ service was made available to all individual and commercial customers using Internet Banking and Türkiye Finans Mobile Banking. Customers can create multiple Payment Request requests through our digital channels, including within FAST and money transfer limits, collect their receivables, and share common expenses.

“22,630 hours of work completed by robots” Murat Akşam also provided information on Türkiye Finans's digitalization efforts regarding customer and employee experience. He stated: “With a human-centric approach to technology, we elevated our customer and employee experience. Our investments in digital customer experience, innovative business models and products developed with artificial intelligence support resulted in 96% of our customers using mobile banking in the first nine months of 2024. Positive customer feedback from digital channels reached 88%, and we acquired 30% of our new customers through these channels. Additionally, through Robotic Process Automation (RPA) projects, we managed to have robots complete 22,630 hours of work since the beginning of the year. Thus, we increased efficiency while reducing the workload on our employees.”

Akşam concluded by expressing that the bank's achievements continued to receive global recognition with international awards obtained in the third quarter: “We take pride in the distance we have covered in our digitalization journey, which we consider the strongest tool for enhancing the experience of our customers and employees and for sustainable banking. In the last quarter of 2024, we will continue to improve the excellent customer experience with human-centric technology and innovations, supporting production and trade with a perspective of sustainable development and inclusive banking strategies.”